All Forum Posts by: Amanda Major

Hi, I’m considering a duplex, (I have 11k cash saved, debt free except mortgage, 36k retirement, and about 60k equity in my home) and the numbers seem right cap ex at about 10%. 120k, rental income 1250/month - I used calculation 1200/120000 to be safe. My question is what would be the best way to finance this property? I have 11k, access to another 30k through my dad, and 60k equity in my home. I’d like to keep my current home (small but cozy) and start generating come cash flow. How should finance this without putting myself in a situation where I cannot buy another property? My current mortgage is $800/mo total monthly expenses are about $2300. We own a business and I have steady income, our combined net income is around 6-9k/month.

@Percy N. College towns scare me a little bit because I remember how I was when I was in college. We fear that it will require a lot more maintenance and annual tenant changes. Currently I have kept my tenants for 2-5 years.

Hi, I turn 28 tomorrow, (I have 11k cash saved, debt free except mortgage, 36k retirement, and about 60k equity in my home) and I’m slowing learning what I need to do to get where I want to be. I also have the option of investing with my dad who is typically always out of the country, but has the capital to invest with me. I have a good job at a local hospital, but I look to eventually generate enough passive income that I can do my job part-time. Right now I am looking to add a property to my portfolio, I have been reading books and blogs to better prepare my mindset and my wallet for such endeavors. Currently I invest with my father and am a 1/3 owner of a multi family unit that generates a good ROI (he has other properties that I manage as well). However, I feel as though I am ready for another property. I have been scouring MLS/Zillow for multi family units and I cannot find anything in my town (which does quite well for renting). I’m starting to think I will have to move outside my city to find something. However if I do that I will likely have to rely on others to fix things and manage the place. Right now I mange our units, and my husband (contractor) manages the upkeep and maintenance as it comes. If I were to buy something outside of my town should I just focus on getting a good deal that would allow extra money for others to manage/upkeep? We really have saved a lot doing things ourselves, and it’s hard to imagine paying someone to fix little things we could do. Right now I am looking at a 4plex in a college town, the price is right but it is about 50-60 minutes away. 240k, rent 610/each — would I be stretching myself too thin? Should I just remain patient and wait for the right place closer to my town? Thanks for any and all input.

Hi, I turn 28 tomorrow, (I have 11k cash saved, debt free except mortgage, 36k retirement, and about 60k equity in my home) and I’m slowing learning what I need to do to get where I want to be. I also have the option of investing with my dad who is typically always out of the country, but has the capital to invest with me. I have a good job at a local hospital, but I look to eventually generate enough passive income that I can do my job part-time. Right now I am looking to add a property to my portfolio, I have been reading books and blogs to better prepare my mindset and my wallet for such endeavors. Currently I invest with my father and am a 1/3 owner of a multi family unit that generates a good ROI (he has other properties that I manage as well). However, I feel as though I am ready for another property. I have been scouring MLS/Zillow for multi family units and I cannot find anything in my town (which does quite well for renting). I’m starting to think I will have to move outside my city to find something. However if I do that I will likely have to rely on others to fix things and manage the place. Right now I mange our units, and my husband (contractor) manages the upkeep and maintenance as it comes. If I were to buy something outside of my town should I just focus on getting a good deal that would allow extra money for others to manage/upkeep? We really have saved a lot doing things ourselves, and it’s hard to imagine paying someone to fix little things we could do. Right now I am looking at a 4plex in a college town, the price is right but it is about 50-60 minutes away. 240k, rent 610/each — would I be stretching myself too thin? Should I just remain patient and wait for the right place closer to my town? Thanks for any and all input.

Hi, I turn 28 tomorrow, (I have 11k cash saved, debt free except mortgage, 36k retirement, and about 60k equity in my home) and I’m slowing learning what I need to do to get where I want to be. I also have the option of investing with my dad who is typically always out of the country, but has the capital to invest with me. I have a good job at a local hospital, but I look to eventually generate enough passive income that I can do my job part-time. Right now I am looking to add a property to my portfolio, I have been reading books and blogs to better prepare my mindset and my wallet for such endeavors. Currently I invest with my father and am a 1/3 owner of a multi family unit that generates a good ROI (he has other properties that I manage as well). However, I feel as though I am ready for another property. I have been scouring MLS/Zillow for multi family units and I cannot find anything in my town (which does quite well for renting). I’m starting to think I will have to move outside my city to find something. However if I do that I will likely have to rely on others to fix things and manage the place. Right now I mange our units, and my husband (contractor) manages the upkeep and maintenance as it comes. If I were to buy something outside of my town should I just focus on getting a good deal that would allow extra money for others to manage/upkeep? We really have saved a lot doing things ourselves, and it’s hard to imagine paying someone to fix little things we could do. Right now I am looking at a 4plex in a college town, the price is right but it is about 50-60 minutes away. 240k, rent 610/each — would I be stretching myself too thin? Should I just remain patient and wait for the right place closer to my town? Thanks for any and all input.